Category: news

Zhou Xiaoguang says that in China women entrepreneurs are entitled to special assistance in starting companies

As a teenager Zhou Xiaoguang hauled a 60kg bag of trinkets around China on night trains selling her wares. Now her company, Neoglory, is the world’s market leader in costume and fashion jewellery.

Neoglory once was a simple low-cost manufacturer, churning out cheap rings, bracelets and necklaces.

Today, it has nearly a thousand stores of its own dotted across China, and 300 designers producing 100 new designs a day.

Based in Yiwu, in East China’s Zhejiang Province, Madame Zhou’s success has had a startling effect on her adopted home town.

Over the next weeks we will profile six of China’s richest entrepreneurs, and report how they fit into the country’s society.

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When she arrived in 1986, Yiwu was noted mainly for its poverty.

Today there are nearly 4000 jewellery manufacturers, employing over 100,000 people and generating over $3bn a year in sales.

Madame Zhou left school at 16, tired of being sent to stand outside of class because her parents were behind on the fees.

At age 35 she studied for and was awarded an MBA.

“I felt as if I was wronged to have to start working as a vendor at such a young age,” Mrs Zhou says, the memory of those times still fresh three decades later.

Today, her companies dominate local industry. As well as running a jewellery business, she has property holdings that include 5 million square metres of office space in the Yiwu region. She has also diversified into wine and other investments.

Her base is Neoglory’s six-storey company headquarters, in which she and 28 other family members live and work.

The jewellery business is still her main focus. These days, she sells her wares in trade fairs rather than train stations, with a sales force in 70 countries. Neoglory has high-profile alliances with the likes of Austrian luxury brand Swarovski – its crystals are used in Neoglory products – and singer Celine Dion, who has put her name to a line of high-end jewellery.

Zhou Xiaoguan’s holdings include property and wine but the jewellery business is still her main focus

Once a “hidden champion,” Neoglory now aspires to become a global brand of its own.

With demand for Neoglory jewellery down by half in Europe and the United States, the company shifted its focus to emerging markets such as Russia, South America and the Middle East.

“It is a must to go abroad to sustain growth,” says Mrs Zhou, who is also a deputy in the National People’s Congress (NPC).

When she attends the annual meetings of the legislative body she arrives with a glossy booklet containing motions on everything from climate change to school security.

She has a team of five former officials and academics who help her develop the motions. She gets input from farmers, entrepreneurs and others in dozens of meetings every year.

Mrs Zhou says that women are now completely equal in China, and adds that female entrepreneurs are even entitled to special assistance in starting companies.

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J Price owner Derek Price shows the BBC’s Maryam Moshiri how a tennis ball is made

“My business is a load of balls,” says Derek Price proudly.

His family firm was set up way back in 1936 – the last time a British man, Fred Perry, won Wimbledon – and is now the last surviving tennis-ball maker in the UK.

And in the face of tough competition from Asia, the company has cut its weekly output from 70,000-80,000 balls to 3,000-4,000.

“All my old-time competitors are all gone,” Mr Price says, standing outside the sturdy, if weather-beaten, Victorian block housing his cramped offices.

“But we survived because I gave all my time and energy to make changes, and to think of new products.

“In fact business is very slowly growing – the secret is we have gone in for niche tennis-ball manufacturing.”

The company makes balls for tennis clubs and coaches, promotional and personalised balls of all different colours – and larger, children’s tennis balls.

In pictures: Inside the Price tennis ball factory

But its relatively high manufacturing costs mean only a handful of retailers are prepared to stock them.

Whereas a major international brand – making its balls in East Asia or South East Asia – can sell four balls for £2.99, Mr Price says, his cost between £4.27 and £4.65.

“How can I compete when the wages my staff get a day, or even an hour, are what the Asian workers are getting per week?” he asks.

“Mostly I sell directly to the public. Most of our orders come through our website.”

But Mr Price and his firm keeps bouncing back, despite the workforce being reduced from 130 at its peak to just eight.

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He has come up with a string of ideas over the years to keep the machines running in his factory.

“It is quite a change from when we used to run the machines 24 hours a day, six and a half days a week,” he says.

Walking around the plant, smelling the rubber fumes and listening to the clanking machinery and presses, it is easy to imagine the business in its post-war heyday.

The ball works, housed in a former candle factory at Box in Wiltshire, seems little changed from the 1950s.

And there is a bustle about the place just now, because with Wimbledon taking place it is one of the peak times of year for the firm.

In the cramped workshop, hissing and groaning machines are turning pellets of rubber into wobbly ball halves.

Much of the equipment at the factory has been in service for decades

These are then glued together, and two figure-eight-shaped pieces of cloth are then attached – by hand, not machine, as Mr Price insists this is still the most accurate way.

“We have got home-workers, retired people and so on, doing this work by hand in their own homes,” he says, although it can also be done on site by trained staff members.

The balls are then placed in a heat pressing machine, which causes the adhesive to make a seal around the two cloth coverings.

The balls can be either pressurised – pumped with air – or left non-pressurised, and any promotional markings applied.

“I am very glad the Wimbledon tournament is on at present, and with the Queens event the other week too,” says Mr Price.

“It means companies are coming to us for promotional tennis balls – for example we have just done some pink tennis balls for Evian mineral water.”

With most of the tennis-ball manufacturing industry churning out yellow balls, Derek says he has also noticed a retro-desire for the white balls his firm still makes.

“We did 8,000 of those a few weeks ago, so this could be another little niche for us in the future,” he says.

A Price factory worker with moulded tennis ball halves

“It seems people want to go back to the old balls for nostalgia reasons.”

And it is not just from the UK that tennis ball orders have come, with two recent requests coming from the US and the Cook Islands.

In addition, the firm has developed a niche making balls for the squash-related game of rackets, and provides the tournament balls to the English and Scottish associations.

And, despite his age, Mr Price, who first visited the site as a six-year-old in 1937, has other plans up his sleeve.

“Being a stubborn old man who will not give in, I have two other balls under development, hopefully for the next tennis season,” he says.

“I can’t tell you what they are, just to be on the safe side.”

He has reason to be reticent about his plans, saying his best developments – including those for golf and squash balls – have been eagerly pounced on by other, bigger, manufacturers.

Meanwhile, Mr Price has plans to sell the existing factory in the next couple of years, and build another on a three-acre site nearby – which he purchased three decades ago before the Asian competition kicked in.

A crate of Price promotional balls made for drinks firm Pimm’s

“My youngest daughter also says she wants to come back to the area in a couple of years time, and be involved with helping to run the company,” says Mr Price.

“As the firm was founded by my father, Joe Price, all those years ago, it would be nice to see it continuing in the family.

“When we were churning the balls out back in the 1960s and 1970s, I got a few takeover offers, but I never took them up because I was enjoying myself too much.”

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By Richard Scott

People are making fewer trips to see friends, the poll suggests

About a third of drivers have cut down on the number of car journeys they make because of the cost of motoring, an RAC report has suggested.

Money needed to run a car was now the motorists’ number one concern, according to the motoring organisation.

Its survey of 1,000 drivers earlier this year indicated rural drivers were hardest hit, as public transport was often not an alternative.

Unleaded petrol now averages about £1.37 a litre, with diesel about £1.42.

Many of those polled said fuel prices were forcing them to cut out visits to friends, find other ways to get to work and not drive their children to after-school activities.

The RAC questioned drivers about their attitudes to motoring.

The survey showed 35% had cut down on short journeys, with 30% saying they have reduced the number of longer outings.

Nearly 40% said they now combine as many journeys as possible into one trip.

Meanwhile, 65% of drivers said they would have to severely reduce their car use if fuel prices continued to rise, and 58% said motoring could become a luxury.

And it’s not just affecting motorists themselves – 9% said they have stopped driving their children to social and school activities.

John Holland lives in Wakefield, but is separated from his partner, with his daughter at school in Horsham, West Sussex.

He said it made him “really sad” that he cannot afford to drive down to see his daughter as much as he would like, simply because he cannot afford the diesel.

“The journeys I save up for are going to see my parents, and going down to my daughter’s school, and that is about it,” he said, “the rest are luxuries and I can’t afford them.”

The RAC said rural drivers were hardest hit because public transport was less likely to be a practical alternative.

Four out of five rural drivers polled said they could only fulfil family commitments, including transporting elderly relatives, by using their car.

Nearly half (44%) of urban drivers surveyed said a car was essential to meet the same commitments.

Motorist John Holland says he has been affected by rises in fuel prices

“People’s ability to live their lives and do the most basic of tasks, such as visit family and take their children to after-school activities, is being threatened – and it looks like it’s only going to get worse,” said the RAC’s motoring strategist, Adrian Tink.

“UK drivers want action from the government. They already pay the highest duty and tax on fuel in Europe. At the very least, we are calling for fuel duty to be frozen and scheduled inflationary rises to be scrapped.”

The figures form part of the organisation’s annual report on motoring.

They also found only 18% of drivers questioned thought the drink-drive limit should be kept as it was, with the vast majority wanting it reduced.

And 70% want the speed limit on motorways raised to 80mph or more, but only 6% said they wanted higher speed limits on country roads.

Some 16% thought the limit on urban roads should be increased.

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A rare glimpse of life on the streets of Syria as the clampdown continues.

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The painting has only been seen in public once before

A rarely seen painting by Pablo Picasso is expected to sell for up to £12m when it goes under the hammer later at Christie’s auction house in London.

Jeune Fille Endormie (1935) is a portrait of the Spanish artist’s lover.

The artwork was donated to the University of Sydney, provided the establishment used money from the sale for scientific research.

Giovanna Bertazzoni from Christie’s said the artwork was an “absolute jewel” of a painting.

Marie-Therese Walter was the subject of many of Picasso’s celebrated works.

The couple met in 1927 when he was 45 and she was 17. The couple spent time together at Picasso’s country home, the Chateau de Boisgeloup, where he created a string of masterpieces.

Nude, Green Leaves And Bust, another portrait of Walter sold last year for a record $106.5m (£65.5m).

Mr Bertazzoni said the artwork, which has only been seen in public once before, is expected to “excite collectors” from all over the world.

Dr Michael Spence from the university said it was a “very generous and far-sighted gift” that was donated to them by an anonymous person.

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The lorry which caught fire was carrying cardboard bales

A lorry fire on the M4 has forced the motorway to close just outside Bath, causing queues to as far as Bristol.

Traffic is reported to be queuing with a tailback reaching about seven miles (11 km) on the eastbound carriageway between junctions 19 and 18.

The fire in the lorry, which was carrying bales of cardboard, was reported at about 1500 BST. Nobody was injured.

It is hoped one lane on the eastbound side will reopen by 2100 BST.

A spokesman for the Highways Agency said: “We have done our best to divert traffic around the incident but such complicated vehicle fires will inevitably cause long tailbacks at this time of the day.”

Both carriageways were initially closed until just before 1530 BST when the westbound side was reopened.

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Lord Patten is due to address BBC Wales staff on Wednesday

First Minister Carwyn Jones has met with Lord Patten, chair of the BBC Trust, to express his concerns over the future of public broadcasting in Wales.

Carwyn Jones has asked for “full disclosure of the scale of cuts and changes currently being considered by the corporation”.

A recently-leaked document sets out how BBC Wales could meet a corporation-wide target to save 20%.

BBC Wales said no decisions had been made.

Unions and politicians have responded to the document, which proposes dropping BBC Wales’ current affairs programme Week In Week Out and, among other ideas, suggests scaling back coverage of the National Eisteddfod and Royal Welsh Show.

The cost-cutting exercise – called Delivering Quality First (DQF) – stems from a decision last autumn to freeze the BBC licence fee.

Following a meeting with Lord Patten on Tuesday, Mr Jones, who also has concerns over future funding of S4C, said: “The changes being proposed have widespread implications.

“There are major implications arising from changes in the funding arrangements of S4C and possible reductions to the BBC’s budget.

“When it comes to BBC Wales, I have told Lord Patten of our worries over proposed cuts to its output.

“I want to see full disclosure of the scale of cuts and changes currently being considered by the corporation.”

Mr Jones said BBC Wales was one of the most powerful institutions in Wales, with 1,200 direct employees.

“It is by far the biggest player in the Welsh market for television, radio and on-line services,” he said.

“It is essential that Wales’ elected representatives are fully involved in any changes that may fundamentally alter it.”

‘Fundamental review’

On S4C, Mr Jones added: “The UK government’s proposals that S4C funding should become the responsibility of the BBC have far reaching importance for Wales and the Welsh language.

“It is essential that the editorial and operational independence of the channel continues and its funding is put on a long-term, secure footing.

“And we also believe that there should be a fundamental review of S4C in order to inform the shape of the channel in the future.”

Mr Jones has previously written to UK Culture Secretary Jeremy Hunt requesting a meeting to discuss broadcasting, which is not devolved.

BBC Wales director Keith Jones has previously said no final decisions were expected to be taken “until much later this year and that final recommendations will need the approval of the BBC Trust”.

He said there would be “very difficult decisions” to make, but said BBC Wales would consult with unions at the relevant time.

A BBC spokesperson said last month: “We have made it clear that local, regional and national services will continue to be at the heart of what we do.

“We are not going to get drawn into a running commentary – no decisions have been taken and therefore these claims remain speculation.”

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Emergency workers were battling more than 400 wildfires across Florida on Tuesday

A wildfire in Florida has claimed the lives of two forest rangers, as emergency services continue to battle more than 400 blazes across the state.

The rangers had been trying contain a 12-acre (4.8-ha) blaze near the Georgia border, but the fire flared up and trapped them, officials said.

Two others were injured trying to save Josh Burch, 31, and Brett Fulton, 52.

The news comes as responders continue to battle thousands of fires in regions of Arizona, Texas and New Mexico.

The fire in which the rangers died – the Blue Ribbon Fire in Florida’s Hamilton County – was burning roughly 85 miles (136 km) north-east of the city of Tallahassee and had previously been considered contained.

“The wildfires have ravaged our state, burning more than 200,000 acres, and now, they have taken the lives of two of our very own men,” Agriculture Commissioner Adam Putnam said in a statement.

The deaths mark the first time anyone working for the Florida Division of Forestry has died from fighting a blaze since 2000, when a helicopter pilot crashed after dumping water on a wildfire near the town of Fort Myers.

Wildfires have burned more than 200,000 acres of land in Florida since 1 May 2011

“The weather can change in Florida very quickly and that’s what we experienced,” state forestry director Jim Karels told the Associated Press news agency.

Meanwhile, a fast-moving fire in Grimes County in Texas destroyed about 35 homes on Tuesday, after burning more than 4,000 acres.

The blaze was started when homeowners near the town of Stoneham lost control of a fire in their grill.

The largest of the US wildfires is considered to be the Wallow Fire in eastern Arizona and western New Mexico, which officials said on Tuesday had burned more than 525,000 acres and was 56% contained.

Roughly 10,400 firefighters are involved in efforts to contain wildfires across the US, with more than 7,000 of them in Arizona and New Mexico, according to the National Interagency Coordination Center.

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McIlroy delight after ‘best golf’ of his life

Northern Ireland golfer Rory McIlroy is expected to arrive back in NI on Wednesday following his victory in the US Open championship.

The 22-year-old from Holywood, County Down, broke a series of records as he won his first major title with an eight shot victory.

Now ranked fourth in the world, he is not expected back in Northern Ireland until Wednesday at the earliest.

In a message posted on twitter he said he was “proud to be a major champion”.

His triumph follows that of compatriot Graeme McDowell in the same event last year.

During the presentation ceremony McIlroy shouted across to his father Gerry: “Happy Father’s Day – this one’s for you”.

Mr McIlroy said it was hard to put the magnitude of his son’s victory into words.

“He has been fantastic,” he said.

“After the Masters he worked hard over the last couple of months to get where he is now, it is unbelievable.

“On Father’s Day, what a present.”

The Northern Ireland First and Deputy First Ministers led the tributes to McIlroy following his victory.

He has also been praised at Westminster and in the Northern Ireland Assembly.

Prime Minister David Cameron said McIlroy’s win was “tremendous”.

“He’s an incredible talent and clearly has a very exciting career ahead of him,” he added.

Leaving his rivals in his wake, McIlroy became the quickest player in the 111-year history of the US Open to reach 10 under par (after 26 holes).

He was also the first player to go beyond 12 under, reaching as much as 17 under on Sunday, and also recorded the best 36 and 54-hole totals.

He is the third person from Northern Ireland to win a major, as Fred Daly won the Open in 1947.

NI First Minister Peter Robinson said McIlroy’s triumph was “one of Northern Ireland’s greatest sporting moments”.

“Over the past four days Rory played perhaps some of the best golf we have ever witnessed,” he said.

“To have led from the first day of the tournament to the last shows a maturity and composure far beyond his years.”

Deputy First Minister Martin McGuinness said the manner of the Holywood golfer’s success was “nothing short of incredible”, following his disappointment at the Masters in Augusta in April.

“The manner in which he has conducted himself this weekend, showing tremendous resilience and character following the disappointment of this loss at Augusta, is a tremendous example to us all,” he added.

“This win follows on from Graeme McDowell’s great win last year and I am very pleased to be able to say that our local golfers are among the very best in the world and I have no doubt that both Rory and Graeme will go on to win further Majors.”

McDowell also expressed his delight at McIlroy’s achievement and said he was the best golfer he had “ever seen”.

It is understood Northern Ireland golfer Darren Clarke has withdrawn from this week’s European Tour event in Munich because he wants to be at the homecoming party for McIlroy.

“He’s potentially the next Tiger Woods – he’s that good,” McDowell said.

“It’s great to see him out there fulfilling his potential.

“He’s been groomed to be a superstar and he’ll handle it very well.

“It’s not a monkey off his back, it’s a gorilla.

“He could go on and do some big things.

“He’s a breath of fresh air for the game and perhaps we’re ready for golf’s next superstar and maybe Rory is it.”

The Irish Prime Minister, Enda Kenny, described McIlroy’s victory as “emphatic and inspiring”.

“Rory led from the front and his record breaking victory stands as one of the great achievements in any sport,” he said.

“I’m sure this will be the first of many major golfing achievements Rory will attain in what I’m sure will be a long and stellar career.”

McIlroy, the youngest US Open champion since Bobby Jones in 1923, said he had set his sights on winning more majors after his maiden triumph in Maryland.

“To get my first major out of the way quite early on in my career, especially after what’s happened the last couple of months, feels great,” he said.

“Now, I’m looking forward to putting myself in the picture for many more.”

Golfing legend Jack Nicklaus, winner of 18 majors, is among those who have tipped McIlroy for further glory.

“I think this kid’s going to have a great career – I don’t think there’s any question about it,” he said.

BBC golf commentator Peter Alliss said McIlroy’s progress was “remarkable”.

“One tends to forget that he is still only 22,” he said.

“He played absolutely wondrously well and it was a joy to see the crowds rising to him.

“He played with such grace and style.

“He has a long way to travel, but I think he will travel it very well.”

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Mr Ban has pledged to work as a “bridge-builder”

UN Secretary General Ban Ki-moon has been re-elected to serve a second five-year term, in a vote at the UN General Assembly in New York.

Mr Ban, a former South Korean foreign minister, was the only candidate after the UN Security Council unanimously recommended his re-election.

Critics say he is too deferential to major powers, but he has won praise for his policies on climate change and the protests sweeping the Middle East.

He took over at the UN in 2007.

His second term will formally begin on 1 January 2012 and run until the end of 2016.

Mr Ban smiled and bowed to ambassadors and diplomats gathered at UN headquarters, who backed the reappointment through applause without a vote.

“In a complex, difficult international environment, you have strengthened the role and the visibility of the United Nations by adopting reform measures, launching exciting, innovative initiatives, and calling faithfully and constantly for respect for human rights, the rule of law and the other values rooted in our charter,” UN General Assembly President Joseph Deiss told him.

When he announced his candidacy two weeks ago, Mr Ban pledged to keep leading the world body as a “bridge-builder” in a time of unprecedented global change.

Correspondents say when Mr Ban was first elected, powerful nations in the Security Council seemed to want a low-profile leader after the schisms of the 2003 Iraq war.

However, his low-key approach has sometimes been criticised. He came under heavy attack from human rights activists for failing to take a public stand on the jailing of Chinese Nobel Peace Prize winner Liu Xiaobo.

More recently, he has spoken out in support of pro-democracy activists in the Middle East and North Africa.

He has also taken a strong stand on climate change.

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Carwyn Jones says the Welsh Government must have borrowing powers

First Minister Carwyn Jones is to set out proposals to change the way the Welsh Government is funded.

It is understood his “comprehensive package” of taxes and borrowing powers could suggest control of stamp duty and air passenger duty.

Mr Jones is due to make a statement in the Senedd on Tuesday when he will set out what he wants to discuss with the UK government.

The Welsh Government has called for fundamental reform by the Treasury.

The main demand is to change the Barnett formula, which is used to determine the budget of the devolved administrations.

After plans to let the Scottish Government borrow money were announced this month, Mr Jones said the case for borrowing powers for Wales was “unassailable” and that the UK government should deliver them as soon as possible.

“Wales cannot remain the only part of the UK where the government cannot borrow to fund roads and hospitals,” he said.

But a Downing Street adviser to the previous Labour administration warned that repaying borrowed money would stretch the Welsh Government’s budget.

John McTernan said: “That would put pressure on a budget that’s already under pressure so it will be very difficult to maintain all the free things that are there or the subsidised things.”

In March, Mr Jones said control over income tax and corporation tax should not be devolved without a referendum.

But last week the Welsh Government said that although it was not actively seeking the devolution of corporation tax, it would expect the power to be offered to Wales if it was given to one of the other devolved nations.

The UK government has said it will launch an inquiry into the way Wales is funded, but its main priority is to deal with the UK’s finances.

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Mr Prentis will say he is willing to negotiate but prepared to strike

The UK’s second largest union is preparing to strike over pension reform as it enters the first day of its annual conference on Tuesday.

In his opening speech, Unison general secretary Dave Prentis will confirm his willingness to negotiate, but also the plan to ballot members if talks fail.

“While we hope for the best, we prepare for the worst,” said a spokeswoman for the union.

Negotiations with the government over pension reform resume on 27 June.

Some 2,000 delegates from Unison – which represents workers in healthcare, utilities, local government, police support and teaching – are meeting in Manchester over four days.

Other unions have announced plans to ballot on 30 June, however Unison says it would need more time to organise a vote among its 1.3 million members.

It was “now a case of when talks break down, not if they break down” said the Unison spokeswoman, following a speech in London by Treasury Chief Secretary Danny Alexander on Friday that was described by unions as “highly inflammatory”.

Mr Alexander accused the unions of spreading “scare stories” about planned reforms, which he claimed were “not an assault” on pensions.

He added that while he was prepared to discuss the detailed implementation of the proposals, the government would be sticking to the broad principles.

Meanwhile, Shadow chancellor Ed Balls has urged unions not to fall into a government “trap” by striking over plans to reform public sector pensions.

Danny Alexander: “I think that’s a very fair and balanced offer”

Among the changes to public sector pensions that Unison objects to:

pension contributions will increase from 6% to an average 9% of paythe retirement age is to be extended to 66 for men and women by April 2020the inflation linkage of benefits will be switched from the retail prices index to the consumer prices index, which is typically lower

Besides pensions reform, the union also opposes the hundreds of thousands of job losses it expects to result from planned government spending cuts, and the public sector pay freeze, which comes at a time when inflation is running at 4.5%.

Motions to be considered by the conference include an explicit call for strike action over the “coalition’s attack on public services”.

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Controversial plans for a badger cull in west Wales are put on hold while a review is carried out.

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Mr Huntsman, right, has been gauging his appeal among key primary election voters

Former Utah Governor Jon Huntsman has announced his bid for the Republican presidential nomination.

In sight of the Statue of Liberty, Mr Huntsman declared that he respected President Barack Obama but had “a difference of opinion on how to help the country we both love.”

Mr Huntsman enters the race at the bottom of the field, and is little-known to the party’s electorate.

He most recently served as Mr Obama’s ambassador to China from 2009 to 2011.

Mr Huntsman’s service as envoy in Beijing until April this year is seen as one of his most significant liabilities, with some staunchly conservative Republicans viewing his work for Mr Obama as a betrayal of the Republican Party.

The son of a wealthy chemical manufacturer, Mr Huntsman rides a motorcycle and plays in a rock band.

He worked as a White House aide under President Ronald Reagan, was ambassador to Singapore under the first President George Bush, and was a trade official under President George W Bush.

Before being elected Utah governor in 2004, Mr Huntsman ran his family’s multi-billion dollar chemical manufacturing company.

He is the second Mormon candidate to join the race, along with Mitt Romney, the former Massachusetts governor currently seen as the Republican front-runner.

Mr Huntsman said in New York that the US must make “hard decisions that are necessary to avert disaster,” a reference to the country’s $14.3tr public debt and $1.5tr budget deficit.

“If we don’t, in less than a decade, every dollar of federal revenue will go to covering the costs of Medicare, Social Security and interest payments on our debt,” he said, referring to healthcare and public pension programmes for older Americans.

“Meanwhile, we’ll sink deeper in debt to pay for everything else – from national security to disaster relief.”

He is also calling for efforts to reduce US dependence on foreign oil and to create jobs, without laying out specifics policies in either area.

Mr Huntsman opens his campaign with a markedly more moderate tone than those of his rivals, some of whom have questioned Mr Obama’s patriotism and loyalty to American ideals.

“I respect the president,” Mr Huntsman said. “He and I have a difference of opinion on how to help the country we both love.

“But the question each of us wants the voters to answer is who will be the better president, not who is the better American.”

Current polls show Mr Huntsman with the support of less than 2% of Republican voters, and some surveys have shown as much as 60% of the primary electorate does not know who he is.

Already in the race are Mr Romney, former House Speaker Newt Gingrich, Minnesota Congresswoman Michele Bachmann, former Minnesota Governor Tim Pawlenty, former Senator Rick Santorum of Pennsylvania, Texas Congressman Ron Paul and Georgia businessman Herman Cain.

Former Alaska Governor Sarah Palin and Texas Governor Rick Perry are thought to be considering running, but have not yet entered the race.

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Team GB are to field football teams at the 2012 Olympics made up of players from England, Scotland, Northern Ireland and Wales, the British Olympic Association announces.

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